Mr. Speaker, I am pleased to present another income trust broken promise petition, from Mr. Neil Leeson of Calgary, Alberta, who remembers that the Prime Minister boasted about his apparent commitment to accountability when he said that the greatest fraud was a promise not kept.
The petitioners remind the Prime Minister that he had promised never to tax income trusts, but he recklessly broke that promise by imposing a 31.5% punitive tax, which in two days wiped out over $25 billion of the hard-earned retirement savings of over 2 million Canadians, particularly seniors.
The petitioners therefore call on the Conservative minority government to admit: first, that the decision to tax income trusts was based on flawed methodology and incorrect assumptions; second, to apologize to those who were unfairly harmed by this broken promise; and, finally, to repeal the punitive 31.5% tax on income trusts.